Here’s how to tell if someone took out a loan using your pan card, check the details

Cybercriminals have found a new way to scam innocent people/consumers. They take out loans in someone’s name using PAN card (permanent account number) and Aadhar card. This becomes possible because some lending companies only grant small loans on the basis of a PAN card or a mobile phone number.

There have been many cases in which PAN cardholders learned that loans against their PAN had been made to an unknown person without their consent. CIBIL score of victims is badly affected due to this PAN card lending fraud.

The first step to avoid such PAN card fraud by such cyber criminals is not to share one’s PAN or Aadhaar number with strangers. Also, they should remain vigilant while sharing their PAN or Aadhaar number in places where it might be misused. The purpose of sharing a photocopy of one’s PAN card or Aadhaar card should be kept in writing so that there is no risk of misuse of PAN or Aadhaar numbers.

Apart from that, PAN cardholders should regularly check their CIBIL score and loan details. This can be done online by logging into the services of any credit bureau such as CIBIL, Equifax, Experian or CRIF High Mark.

Some fintech apps like Paytm and PolicyBazaar provide users with CIBIL score instantly along with their loan details, therefore, you can also check your loan details frequently by logging in to these fintech companies for details of loans taken against your name using your PAN Number.

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